Buying Real Estate in Poland – What to Take into Consideration
Buying real estate in Poland is an important and long-awaited moment for various foreign citizens. However, it can often be overshadowed by the results of the transaction, or rather, by the mismatch of expectations and reality. The following list provides the essential factors one shall take into account when buying real estate in Poland:
Before choosing a specific offer, it is worth formulating your requirements for real estate: the preferred residential area or area of the city, the type of development, the floor in the building, the number of rooms, the presence of a terrace, etc. The easiest way is to write down your requirements. This way it is easier to evaluate the proposal of the developer or landlord.
Research the market – During a pandemic, it is more difficult to visit many places and make an appointment with sales offices, but one should not give up. Market familiarization is the basis for a successful choice, and buying real estate is a serious decision. If you don’t want to go in person, you can meet in a video chat, talk on the phone, or request information by e-mail.
Consider using promotions and discounts – Development companies are profitable enterprises with a certain rate of return and commercialization time. However, they should also maintain financial liquidity, so the sale of their product cannot last too long, because this means frozen capital. That’s why it’s always profitable to remember promotion and negotiations with the developer. Price promotions are usually designed to reward buyers and stimulate sales – most often they are used at the beginning and end of the sale period for apartments.
When planning to buy an apartment, one needs to estimate the financial capabilities. It is necessary to take into account not only the amount that we are ready to spend on the purchase of a building but also additional costs: payment of notary services, tax for the purchase of the real estate, etc.
And last but not least, Never forget the future possibility. When buying an apartment or office for your business, you should always take into account the size. For example, whether you plan to expand your business in the future or start a family later on. And it works both ways. The real estate shouldn’t be too small or too large for your plans. It is an investment for many years.
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